Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not-for-profit
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Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash.
Some people think that not-for-profit entities should recognize pledges as revenues when the cash is actually received. Others would recognize revenues when the pledges are made, subject to a provision for amounts not likely to be collected.
Based on that scenario, discuss (a) the need for an accounting standards-setting body, (b) the qualifications that members of that body should possess, and (c) the procedures that body should adopt in establishing accounting standards.
Related Book For
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
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